In brief: Apollo commits $100m to employee-backed philanthropy

The Apollo Opportunity Foundation will partner with organisations focused on causes championed by employees of the private markets firm.

Apollo has made a $100 million investment, spread over the next decade, with no expectation for dollar-sign returns. The private markets firm launched the Apollo Opportunity Foundation this week and is directing the goodwill capital towards initiatives “championed” by employees, according to a statement. Apollo’s foundation is looking to partner with non-profit organisations focused on education access, workforce development and economic empowerment.

On the business front, Apollo also announced the launch of a new sustainable investing platform and set the goal to invest $100 billion in energy transition assets over the next decade.